Friday, April 19, 2013

UA April 19 2013

Under Armour
UA April 19 2013

There are several things going on in this chart that are usually considered Bullish. What at first must have looked like an annoying decline turned into a nice cup pattern. It may be easy to miss because it started last August, but it's there when you look at the daily. The price is safely in the higher of the two long-term high value nodes. This may move sideways to form a handle, but at some point the patterns suggest a nice move higher.

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